RLJ Entertainment Chairman Robert L. Johnson Announces $2 Million Stock
SILVER SPRING, Md. -- June 19, 2013
RLJ Entertainment Inc., (NASDAQ: RLJE), announced today that Robert L.
Johnson, the company's Chairman, has adopted a Rule 10b5-1 plan under which he
can purchase up to $2 million worth of RLJ Entertainment’s common stock.
RLJ Entertainment, founded by Robert L. Johnson, founder of Black
Entertainment Television and The RLJ Companies, is a leading creator, owner
and distributor of media content across digital, broadcast and physical
platforms. The company leverages its branding expertise, access to content and
direct to consumer skills to optimize the value of its programs for distinct
audiences. RLJ Entertainment was formed in October, 2012 through the business
combination of RLJ Acquisition, Inc., Image Entertainment, Inc. and Acorn
Media Group, Inc.
Mr. Johnson commented, “My decision to acquire additional RLJ Entertainment
stock reflects my belief that the current value of the company’s shares do not
represent the long-term growth prospects of the business. I have strong
confidence in RLJ Entertainment’s management, Miguel Penella, CEO, and Drew
Wilson, CFO, and their ability to maximize long-term shareholder value.”
Under the plan, Mr. Johnson may purchase up to $2 million of the company's
outstanding shares from time to time over the next 24 months. The share
purchases will be made in the open market or in privately negotiated
transactions in compliance with applicable laws and regulations, and purchases
on the open market will be conducted within the safe harbor provisions of
Regulation 10b-18 under the Securities Exchange Act of 1934, as amended.
As of June 19, 2013 Mr. Johnson beneficially owns 6,974,178 shares of the
company’s common stock which constitutes approximately 40.56% of the shares of
the company’s common stock outstanding. The stock purchase program does not
obligate Mr. Johnson to purchase shares of the company’s common stock and the
program may be modified or terminated at any time without prior notice.
Forward Looking Statements
This press release may include “forward looking statements” within the meaning
of the “safe harbor” provisions of the United Stated Private Securities
Litigation Reform Act of 1995. Forward-looking statements may be identified by
the use of words such as “anticipate”, “believe”, “expect”, “estimate”,
“plan”, “outlook”, and “project” and other similar expressions that predict or
indicate future events or trends or that are not statements of historical
matters. Investors are cautioned that such forward looking statements with
respect to revenues, earnings, EBITDA, performance, strategies, prospects and
other aspects of the business of RLJ Entertainment is based on current
expectations that are subject to risks and uncertainties.
Readers are referred to the most recent reports filed with the SEC by RLJ
Entertainment. Readers are cautioned not to place undue reliance upon any
forward-looking statements, which speak only as of the date made, and we
undertake no obligation to update or revise the forward-looking statements,
whether as a result of new information, future events or otherwise.
About RLJ Entertainment - RLJ Entertainment, Inc. (NASDAQ: RLJE) is a premier
independent licensee and distributor of entertainment content and programming
in North America, the United Kingdom and Australia with over 5,300 exclusive
titles. RLJE is a leader in numerous genres via its owned and distributed
brands such as Acorn (British TV), Image (stand-up comedy, feature films), One
Village (urban), Acacia (fitness), Slingshot (faith), Athena (educational),
Criterion (art films) and Madacy (gift sets). These titles are distributed in
multiple formats including DVD, Blu-Ray, digital download, digital streaming,
broadcast television (including satellite and cable), theatrical and
Via its majority-owned subsidiary Agatha Christie Limited (“ACL”), RLJE
manages the intellectual property and publishing rights to some of the
greatest works of mystery fiction, including stories of the iconic sleuths
Miss Marple and Poirot. And through its direct-to-consumer business, RLJE has
direct contacts and billing relationships with millions of consumers.
RLJE leverages its management experience to acquire, distribute, and monetize
existing and original content for its many distribution channels, including
its nascent branded digital subscription channels, and engages distinct
audiences with programming that appeals directly to their unique viewing
interests. RLJE has proprietary e-commerce web sites for the Acorn and Acacia
brands, and owns the recently launched Acorn TV digital subscription service.
Sloane & Company
Josh Hochberg, 212-446-1892
Erica Bartsch, 212-446-1875
The RLJ Companies
Traci Otey Blunt, 240-744-7858
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